Canaccord Genuity Group Has Lowered Expectations for Pagaya Technologies (NASDAQ:PGY) Stock Price

Pagaya Technologies (NASDAQ:PGY) had its price objective decreased by Canaccord Genuity Group from $32.00 to $25.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

PGY has been the subject of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Wedbush reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Pagaya Technologies in a research note on Monday, August 12th. B. Riley cut their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Oppenheimer started coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They set an “outperform” rating and a $12.00 price objective for the company. Finally, Benchmark reissued a “buy” rating and set a $21.00 price objective on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.11.

Pagaya Technologies Stock Down 6.4 %

Shares of PGY opened at $10.18 on Wednesday. Pagaya Technologies has a 52-week low of $8.56 and a 52-week high of $20.50. The company has a market capitalization of $731.13 million, a PE ratio of -4.01 and a beta of 6.33. The stock has a fifty day simple moving average of $11.68 and a two-hundred day simple moving average of $12.35. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72.

Insider Activity at Pagaya Technologies

In other news, insider Yahav Yulzari bought 23,600 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of $10.52 per share, for a total transaction of $248,272.00. Following the acquisition, the insider now directly owns 311,637 shares of the company’s stock, valued at $3,278,421.24. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Yahav Yulzari bought 23,600 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of $10.52 per share, for a total transaction of $248,272.00. Following the acquisition, the insider now directly owns 311,637 shares of the company’s stock, valued at $3,278,421.24. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tami Rosen sold 17,570 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.06, for a total value of $211,894.20. Following the transaction, the insider now owns 73,516 shares of the company’s stock, valued at $886,602.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,045 shares of company stock worth $2,755,982 in the last three months. 49.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hood River Capital Management LLC purchased a new position in shares of Pagaya Technologies in the 1st quarter valued at about $9,265,000. Yarra Square Partners LP boosted its stake in shares of Pagaya Technologies by 29.9% in the 2nd quarter. Yarra Square Partners LP now owns 619,345 shares of the company’s stock valued at $7,903,000 after buying an additional 142,500 shares during the period. FMR LLC boosted its stake in shares of Pagaya Technologies by 8.3% in the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock valued at $5,545,000 after buying an additional 40,031 shares during the period. ARK Investment Management LLC boosted its stake in shares of Pagaya Technologies by 36.2% in the 2nd quarter. ARK Investment Management LLC now owns 221,810 shares of the company’s stock valued at $2,830,000 after buying an additional 58,939 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Pagaya Technologies by 455.9% in the 2nd quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock valued at $2,789,000 after buying an additional 179,235 shares during the period. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.